1. IVASS – TOWARDS SOLVENCY II -
In the process of implementing the rules of Solvency II, EIOPA on 31 October 2013 published guidelines relating to the following areas: the system of governance; prospective assessment of risks (based on ORSA principles); the transmission of information to the competent national supervisory authorities (reporting); the preliminary procedure for internal models (pre-application) to enable each company to calculate the solvency capital requirement.
These guidelines have been issued under art. 16 of EU Regulation no. 1094/2010 (the “EIOPA Regulation”) and are addressed to the supervisory authorities of the various countries. They anticipate parts of the future Solvency II prudential supervisory regime.
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